Envestnet Asset Management Inc. Purchases 280,397 Shares of Nu Holdings Ltd. (NYSE:NU)

Envestnet Asset Management Inc. increased its stake in shares of Nu Holdings Ltd. (NYSE:NU) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,216,693 shares of the company’s stock after buying an additional 280,397 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of NU worth $54,353,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NU. Beacon Pointe Advisors LLC acquired a new stake in NU during the fourth quarter worth approximately $199,000. Independent Advisor Alliance acquired a new stake in NU during the fourth quarter worth approximately $99,000. Norges Bank acquired a new stake in NU during the fourth quarter worth approximately $209,534,000. Gladstone Institutional Advisory LLC grew its position in NU by 11.9% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,280 shares of the company’s stock worth $127,000 after buying an additional 1,625 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in NU by 6.7% during the fourth quarter. Corient Private Wealth LLC now owns 101,604 shares of the company’s stock worth $846,000 after buying an additional 6,383 shares in the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on NU from $14.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Barclays raised their target price on NU from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna reaffirmed a “positive” rating and issued a $16.00 target price on shares of NU in a report on Thursday, August 15th. Bank of America raised their target price on NU from $12.80 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, UBS Group downgraded NU from a “buy” rating to a “neutral” rating and set a $13.50 target price on the stock. in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.08.

NU Trading Down 1.9 %

NYSE NU opened at $14.85 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.25. Nu Holdings Ltd. has a twelve month low of $6.77 and a twelve month high of $15.16. The company has a market cap of $70.77 billion, a price-to-earnings ratio of 57.12, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17. The business’s fifty day moving average is $13.40 and its 200 day moving average is $12.32.

NU (NYSE:NU) last announced its earnings results on Tuesday, August 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.90 billion. NU had a return on equity of 27.00% and a net margin of 15.11%. During the same period last year, the company earned $0.05 EPS. As a group, sell-side analysts expect that Nu Holdings Ltd. will post 0.4 EPS for the current fiscal year.

NU Profile

Nu Holdings Ltd. provides digital banking platform and digital financial services in Brazil, Mexico, Colombia, and internationally. It offers Nu credit and debit cards; Ultraviolet credit and debit cards; and mobile payment solutions for NuAccount customers to make and receive transfers, pay bills, and make everyday purchases through their mobile phones.